Sable Pt backers say market will turn
It may seem folly to list a platinum exploration play while producers are closing
up shop, but mining’s a long-term game, say the people behind Sable Platinum.
Amplats’ Griffith has little margin for error
Anglo American Platinum’s Chris Griffith has inherited a rather unenviable
position in SA’s mining industry. However, he does seem to be extraordinarily
blessed with good fortune.
Atlatsa’s Bokoni will not be shut amid review
Atlatsa Resources said its R5bn recapitalisation programme with Amplats would
not be complete in July as forecast, but added there were no plans to close its
Bokoni mines amid Amplats’ restructuring review.
Nicolau felt Amplats had already cut back
Speaking to Miningmx before his resignation, former Amplats CEO,
Neville Nicolau, said he didn’t see the point in cutting ounces only for the benefit of the rest of the industry.
Lonmin hauls in capex, output growth
Lonmin cut production growth and said it might refinance its balance sheet amid
pricing conditions which, it said, may persist longer than anticipated.
Ominous for Aquarius as axe is sharpened
Troubles mount for Aquarius Platinum amid a cash negative performance from
its Kroondal mine; an operation it shares with Amplats.
Amplats, the first of torrid reporting season
Amplats is the first of several South African platinum miners that will post torrid
results, resulting from an oversupply of the metal which is depressing its dollar
price.
Amplats slashes capex, lowers 2012 output
In an effort to preserve its balance sheet in these difficult times, Amplats has
slashed capex R700m amid signs its group review is intensifying.
SA’s latest platinum hopeful, Sable, lists on JSE
Sable Platinum said it intends to list on the JSE on September 17 in a reverse
takeover of cash shell, New Corpcapital.
Nicolau goes as Anglo rings the changes
UPDATED: A difference in opinion over the extent of changes needed at Anglo
American Platinum is the likely reason for the departure of the group’s CEO,
Neville Nicolau.